Question 26 Sheridan Company uses a periodic inventory system. For October, when the company sold 1,360 units, the following information is available. Units Unit Cost Total Cost October 1 Inventory 480 $18 $8,640 October 8 purchase 960 19 18,240 October 25 purchase 480 22 10,560 1.920 $37,440 Compute the October 31 Inventory and the October cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold